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Accounting

A KICKBACK kɪkˌbæk

Noun

  • an amount of money that is paid illegally for favours.
Example Sentence: The construction company was giving kickbacks to the local politicians.
 

KEEP BOOKS kip bʊks

Phrase

  • to keep records of money that is gained or spent.
Example Sentence: The new sales manager does not know how to keep books and he has made many mistakes.
 

LIQUID ASSETS lɪkwɪd æsɛts

Phrase

  • property or belongings that can easily be converted to cash.
Example Sentence: The company had to sell some of its liquid assets in order to raise cash.
 

IN THE RED  

Phrase

  • to be losing money, to be unprofitable.
Example Sentence: The company has been in the red since the price of oil began to rise rapidly.
 

IN THE BLACK  

Phrase

  • to be successful, to be making money, to be profitable.
Example Sentence: The new company has been in the black for many years now.
 

GO OVER THE BOOKS  

Phrase

  • to check and analyze the accounting records of a company.
Example Sentence: We hired an outside accountant to go over our books.
 

A NUMBER CRUNCHER  

Noun

  • an accountant, someone who works with numbers.
Example Sentence: Our president is a good number cruncher and he understands the finances of the company.
 

CRUNCH NUMBERS krʌntʃ nʌmbərz

Phrase

  • to do mathematical calculations.
Example Sentence: Our accountant loves to crunch numbers and he is one of the top managers in the company.
 

CLOSE UP SHOP  

Phrase

  • to stop doing business (for a variety of reasons.)
Example Sentence: The university bookstore had to close up shop when their rent was increased.
 

CLOSE THE BOOKS  

Phrase

  • to stop taking orders, to end a bookkeeping period.
Example Sentence: The company will close the books at the end of December.
 

BUDGET CRUNCH/SQUEEZE  

Phrase

  • a situation where there is not enough money in the company.
Example Sentence: There is a severe budget squeeze at our company and we must stop wasting money.
 

BEAN COUNTER bin kaʊntər

Phrase

  • an accountant.
Example Sentence: We asked the bean counters to look at the figures in the new budget.
 

CAPPED FEE kæpt fi

Noun

  • the maximum a company can charge for its services.
Example Sentence: The government has announced to cap tuition fees at $500 per month.
 

FLAT FEE flæt fi

Noun

  • a fixed fee for a service that remains unchanged regardless of usage (e.g. a law firm is not paid by the hour for its services in a particular case but the type of case has a fixed fee)
Example Sentence: We will assist you with any business related legal issue and we offer you a flat fee payment option.
 

AMORTISATION əˌmɔːtaɪˈzeɪʃən

Noun

  • the repayment of debt in small regular amounts.
Example Sentence: Company earnings before interest, tax and amortisation grew by 10%.
 
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